First Solar Signs PPA to Construct 30MW Power Plant-


First Solar, Inc., a solar PV module manufacturer, has teamed up with the Tri-State Generation and Transmission Association to provide effective and affordable clean energy solutions to the residents of Colorado, Nebraska, Wyoming and New Mexico. First Solar, Inc. has made great strides in the reduction of solar electricity costs and has been focused on providing clean energy solutions that protect and vitalize the environment. The 25-year power purchase agreement will commence with the planned construction of a 30 megawatt AC land mounted photovoltaic power plant in New Mexico, that includes 500,000 solar panels and will produce enough electricity to power over 9,000 homes.

In February of  2009, First Solar reported that they had reduced their PV manufacturing costs to $0.98/watt, breaking the $1/watt milestone and ushering in an era of more affordable solar power options. In addition to the incredible environmental and cost benefits of this large scale project, the plant is expected to produce plentiful jobs to stimulate the local economy. U.S. Senator Jeff Bingaman, chairman of the Senate Energy and Natural Resources Committee, has expressed his satisfaction over the clean energy strategy, stating that the powerful initiative set forth by New Mexico will generate many more alternative energy projects across the country, shifting our reliance from fossil fuels to green energy. The PV power plant is expected to be completed by the end of 2010 and stands to be the largest solar PV development by an electric company in the United States.